Peter Brandt Sets $2.16 Target for XRP but Prefers Monero Solana

Veteran trader Peter Brandt has set a new price target for XRP at $2.16, though he expressed reservations about its potential due to significant overhead supply. Brandt identified a cup and handle pattern on a weekly XRP chart, suggesting a possible inverse head and shoulders formation, which could push the price up by about 43% from its current level of around $1.51.

Despite the optimistic projection, Brandt cautioned that the right shoulder of the pattern is poorly formed, indicating it may need more time to develop. He also highlighted the substantial overhead supply from holders who bought XRP between $2 and $3.70 during the 2025 rally, which could create resistance as the price climbs.

Brandt reiterated his preference for other cryptocurrencies, particularly Monero (XMR), which he described as having absorbed all overhead supply and being poised for clear sailing ahead. He also favored Solana (SOL) and Ether (ETH) over XRP, citing better chart patterns and less supply overhead. Stellar (XLM) was mentioned as having overhead supply but not on the same scale as XRP.

The trader made it clear that he focuses solely on price action, dismissing the fundamentals of XRP and other coins except for Bitcoin (BTC). He emphasized that his price targets are not absolute and can change based on market dynamics.